Auditors Baker Tilly are under investigation by the Financial Reporting Council (FRC) following allegations of unethical conduct.
The complaint relates to the auditing of engineering firm Tanfield's financial statement for the year ended 31 December 2007. It alleges that the conduct of Baker Tilly, and specifically office managing partners Richard King and Steven Railton, "fell significantly short" of the standards expected of auditors, in that they failed to act in accordance with the fundamental principle of their professional bodies' codes of ethics requiring them to act with professional competence and due care. The FRC said an initial investigation into the conduct of King and Railton points to a "realistic...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes